-LRB- CNN -RRB- -- Ferrari 's Fernando Alonso has told CNN Sport 's Don Riddell that Michael Schumacher is still the fastest driver on the Formula One grid .

Speaking ahead of the opening grand prix of the season in Melbourne , Australia , Alonso -- himself a double world champion -- believes that seven-time world champion Schumacher remains a cut above his rivals .

`` If Formula One was 24 cars exactly the same , then Michael would be the driver I would fear most , '' revealed Alonso .

`` If you look down the list of drivers on the grid for 2011 , then one name stands out above the rest , Michael Schumacher .

`` Michael is a seven-times world champion and is a legend in Formula One . We have to respect him because he has the ability and talent to do well this season . ''

Despite not winning the drivers ' title since 2006 , Alonso confirmed that should he retire without another championship to his name , he would still be more than happy with his career .

`` Not many drivers have had the opportunity to win one world title , let alone two . I have already had nine years in Formula One and hopefully have another six or seven to come , '' added the Spaniard .

`` I could spend nearly a quarter of my life in this wonderful sport , doing what I love to do , so I consider myself lucky and am very happy . ''

Despite this , Alonso confirmed that coming so close to his third world title last year , left him sad and frustrated .

`` The first three or four days after the end of the season were not the best for me , '' Alonso confirmed . `` But I feel that Sebastian Vettel and Red Bull won the title rather than Ferrari losing it .

`` Coming so close last year makes the team determined to go one better this time around , '' he added .

`` Everybody at Ferrari was devastated by the result at Abu Dhabi last year but we are all very motivated now for 2011 . ''

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Fernando Alonso tells CNN that Michael Schumacher is still the best F1 driver

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The Ferrari driver believes Schumacher remains a cut above his F1 rivals

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Alonso confirmed he would still be satisfied even without another world title